Hi GT3RS and everyone,
In the past I've received similar questions about timing.
I'd say next, while we stick to the original rules (which everyone likes to stress on every time
), I don't want you to be locked in a box.
As more and more traders begin to pay attention to market hours, behavior of many trading strategies and styles which are tailored to certain hours changes over the years. All WE have to do is to adjust while keeping the main trading idea alive.
As I said in my old posts, I've been experimenting with shifted hours to address this early breakout question.
The idea I've been working on goes as follows:
- we draw trend lines using 5 candle range after midnight AND now also 3 hours before the midnight if there is a valid swing to use.
- if we ended up using a swing before the midnight, we only draw a trend line which would allow us to trade a breakout in the direction of the main trend.
- our main trend is suggested by 200 EMA: price above 200 EMA - uptrend, below - downtrend.
So, keep the breakout idea, try shifting hours and compare results.
Best regards,
Edward